On 08/08/2019 the fund has signed an agreement to purchase Elite Mall building located in Riyadh (Dhabab street) on a land area of 9,600 square meters and a building area of 21,929 square meters, and the value of the deal is 201.5 million riyals, note that the property will be fully leased for five years with a net income of 16 million riyals per year starting from the date of transfer of ownership

The Impact Caused by the Event

The acquisition will be by increasing the size of the fund by approximately 80.6 million riyals at a price of 9.94 riyals / unit, which represents 40% of the value of the property and the remaining value will be paid by financing after obtaining the necessary approvals according to the relevant regulation.

Additional Information

The seller is not a related party

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